About:
Hub Power Company Limited, commonly known as Hubco, is a leading Pakistani power company based in Karachi, Sindh. Established in 1991, Hubco was the first Independent Power Producer (IPP) in Pakistan and was the largest IPP in the country before the termination of its energy agreement in October 2024. Hubco is instrumental in Pakistan’s energy sector, generating electricity through its diverse portfolio of power plants, including thermal, hydroelectric, and coal-fired power stations.
Diverse Portfolio:
Hubco operates a variety of power plants, including:
- Thermal Power: The company owns and operates the Hub Power Plant, a key thermal facility.
- Hydroelectric Power: In 2008, Hubco acquired Laraib Energy and initiated the 84MW run-of-river hydroelectric power project on the Mangla Dam. The New Bong Hydropower Plant commenced operations in 2013.
- Coal-Fired Power: The company also holds a 74% stake in the China Power Hub Generation Company Limited, which commissioned a 1.32GW coal-fired power plant in 2019.
- Other Ventures: Hubco has several subsidiaries, including Narowal Energy Limited, Thar Energy Limited, and Prime International Oil & Gas Company Limited, as well as joint ventures such as China Power Hub Operating Company Limited.
Innovation and Growth:
Over the years, Hubco has diversified its operations, entering into joint ventures and acquiring assets to strengthen its position in the energy sector. In 2022, Hubco’s joint venture, Prime International, acquired Eni Pakistan’s E&P subsidiary. The company has also played a significant role in addressing Pakistan’s energy deficit through investments in both renewable and non-renewable energy sources.
Legacy and Leadership:
Hubco was founded with significant international investment and quickly became a prominent entity in Pakistan’s power sector. The company has navigated various challenges, including disputes over power purchase agreements, restructuring efforts, and diversification strategies. Under the leadership of CEO Kamran Kamal and Chairman Habibullah Khan, Hubco remains a major player in the electricity generation industry.
Commitment to Excellence:
With over three decades of operations, Hubco continues to provide reliable electricity to Pakistan, contributing significantly to the nation’s energy infrastructure. Despite recent challenges, including the termination of its energy purchase agreement in 2024, Hubco remains dedicated to powering Pakistan’s future with sustainable energy solutions.
